Daily News

US - Kforce reports strong technology demand, Q2 revenue up

July 31 2013

Technology staffing led second-quarter growth at Kforce Inc. (NASD: KFRC). The Tampa, Fla.-based professional staffing provider reported a year-over-year increase in second-quarter revenue of 3.5 percent to $283.7 million. The revenue number was above the top end of its guidance of $281 million.

“Demand for our services, particularly in technology, remains strong,” Chairman and CEO David Dunkel said in a press release. “We also continue to see a secular shift where our clients are increasingly seeking a higher degree of variability in the composition of their workforce as they look to mitigate economic uncertainty and the increasing complexity and cost of employment.”

Second-quarter revenue also rose 8.1 percent year over year in Kforce’s government solutions division to $23.3 million.

However, health information management revenue fell 5.1 percent to $19.0 million from $20.0 million in the second quarter of last year.

Finance and accounting revenue — Kforce’s second-largest division — was roughly flat in the second quarter at $60.9 million.

The company’s second-quarter gross margin was unchanged from the same quarter last year at 32.7 percent.

Kforce posted net income of $6.9 million in the second quarter compared to a net loss of $33.2 million in the year-ago quarter. However, the second quarter of 2012 included a goodwill impairment of $65.3 million.

Kforce Inc. (NASD: KFRC)
For the second quarter ended June 30, 2013, compared with the same period in the previous year.
Revenue: $283.7 million, +3.5 percent Net income: $6.9 million compared to a net loss of $33.2 million

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